New Delhi:
The Ministry of Mines has introduced a big milestone achieved by Khanij Bidesh India Restricted (KABIL) by signing an settlement with the state-owned enterprise of Catamarca province of Argentina CATAMARCA MINERA Y ENERGETICA SOCIEDAD DEL ESTADO (CAMYEN SE) on Monday.
The settlement was signed within the presence of Governor of Catamarca Lic Raul Jalil, Vice Governor of Catamarca, Eng. Ruben Dusso and Minister of Mines Catamarca, HE Marcelo Murua and Ambassador of India to Argentina HE Dinesh Bhatia.
The signing ceremony was nearly attended by Union Minister of Parliamentary Affairs, Coal and Mines Pralhad Joshi and Secretary, Ministry of Mines, VL Kantha Rao. Â Â
“It is a historic day for each India and Argentina as we’re scripting a brand new chapter in bilateral ties with the Settlement signing between KABIL and CAMYEN – a step which won’t solely play a vital function in driving the power transition for sustainable future, but additionally guarantee a resilient and diversified provide chain for essential and strategic minerals important for numerous industries in India,” Mr Joshi stated.
That is the primary ever lithium exploration and mining undertaking by a authorities firm in India.
KABIL will begin exploration and improvement of 5 lithium brine blocks positioned within the Catamarca province of Argentina. KABIL can be making ready to arrange a department workplace at Catamarca. The undertaking price is about Rs 200 crore.
With this settlement, KABIL has obtained exploration and exclusivity proper for five blocksto consider, prospect and discover and subsequent to existence/discovery of lithium mineral, exploitation proper for industrial manufacturing.
This won’t solely enhance its quest for sourcing lithium for India however can even assist in bringing in technical and operational expertise for Brine kind lithium exploration, exploitation, and extraction.
Argentina is the a part of “Lithium Triangle” together with Chile and Bolivia with greater than half of world’s whole lithium assets and having the excellence of getting second-largest lithium assets, third-largest lithium reserves and fourth-largest manufacturing on this planet.
This strategic transfer not solely strengthens the bilateral ties between India and Argentina but additionally contributes to the sustainable improvement of the mining sector, guaranteeing a resilient and diversified provide chain for essential and strategic minerals important for numerous industries.
